033 Entrepreneur

8/7/2019 033 Entrepreneur

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Are You Ready To Be An Entrepreneur?Are You Ready To Be An Entrepreneur?

Important Traits, Helpful Experiences,Important Traits, Helpful Experiences,

And Keys to Startup SuccessAnd Keys to Startup Success

URUR--F.I.R.E. SeriesF.I.R.E. Series

PresentationPresentation

Roger D. OBrienRoger D. OBrienPresidentPresident -- OBrien Associates, LLCOBrien Associates, LLC

[email protected]@ROBrienAssociates.com585585--737737--04000400


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Are You Ready To Be AnAre You Ready To Be An

Entrepreneur?Entrepreneur?ImportantImportant Traits, Helpful Experiences,Traits, Helpful Experiences,

And Keys to Startup SuccessAnd Keys to Startup Success

OBrien Associates Proprietary OBrien Associates Proprietary2008 All Rights Reserved2008 All Rights Reserved


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Myths of Entrepreneurship*Myths of Entrepreneurship*

Entrepreneurs are misfits, difficult to work for.Entrepreneurs are misfits, difficult to work for.

Entrepreneurs are not good managers.Entrepreneurs are not good managers.

Most new ventures start out with OPM.Most new ventures start out with OPM.

The average new venture wont make a profitThe average new venture wont make a profitfor 3 years.for 3 years.

80% of ventures will fail if they dont have a80% of ventures will fail if they dont have agood business plan.good business plan.

You can learn to be an entrepreneur.You can learn to be an entrepreneur.

**AuthorsAuthors -- UnknownUnknown


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Important Entrepreneurial TraitsImportant Entrepreneurial Traits

Tends to create a vision in his/her mind, inTends to create a vision in his/her mind, inadvance of starting a task, for what it should lookadvance of starting a task, for what it should looklike when its done.like when its done.

Likes to keep many balls in the air at once,Likes to keep many balls in the air at once,becomes bored with singular tasks.becomes bored with singular tasks.

High energy level, enthusiastic, optimistic,High energy level, enthusiastic, optimistic,

selfself--confident and selfconfident and self--reliant.reliant.

ProPro--active, likes making things happen.active, likes making things happen.

Is impatient with indecision and mediocrity.Is impatient with indecision and mediocrity. OBrien Associates Proprietary OBrien Associates Proprietary

2008 All Rights Reserved2008 All Rights Reserved


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Important Entrepreneurial Traits (Contd)Important Entrepreneurial Traits (Contd)

Likes to be challenged, enjoys the risk ofLikes to be challenged, enjoys the risk offailure.failure.

Is tenacious, not easily discouraged.Is tenacious, not easily discouraged.

Is this you?Is this you?

OBrien Associates Proprietary OBrien Associates Proprietary



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Prior largePrior large--employer experience:employer experience:

Helpful or hurtful?Helpful or hurtful?+ Training in how to do it right.+ Training in how to do it right.

-- Too little training on selfToo little training on self--reliance andreliance and

general resourcefulness.general resourcefulness.

+ Cash for new projects often available.+ Cash for new projects often available.

-- Investment criteria often narrow and riskInvestment criteria often narrow and risk--

avoiding.avoiding.




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Helpful or hurtful?Helpful or hurtful?

+ Support services plentiful.+ Support services plentiful.

-- Wasteful overhead, all too often.Wasteful overhead, all too often.

+ Employers name commands respect,+ Employers name commands respect,facilitates getting things done.facilitates getting things done.

-- Often a crutch which supports poorOften a crutch which supports poor

ideas/projects.ideas/projects.




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Helpful or hurtful?Helpful or hurtful?

+ Perks and pay are often steady and high.+ Perks and pay are often steady and high.

-- Upside potential can be limited,Upside potential can be limited,

meaningful equity ownership is rare.meaningful equity ownership is rare.

+ Career growth opportunities are often plentiful.+ Career growth opportunities are often plentiful.

-- Politics and empirePolitics and empire--building oftenbuilding often

become a primary agenda.become a primary agenda. OBrien Associates Proprietary OBrien Associates Proprietary



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Keys to StartKeys to Start--Up SuccessUp Success

1. Financing1. Financing Make sure you obtain all you needMake sure you obtain all you need

> Sanity> Sanity--check your idea & business model.check your idea & business model.

> Have a realistic business plan> Have a realistic business plan> Be enthusiastic in presentations !> Be enthusiastic in presentations !

> Ensure target audience understands> Ensure target audience understands

your ventures goals and opportunities.your ventures goals and opportunities.



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Keys to StartKeys to Start--Up Success (Contd)Up Success (Contd)

2. Ensure sales success2. Ensure sales success

> Play role of your customer .> Play role of your customer .

Would you buy this product or service?Would you buy this product or service?

> Carefully design your value> Carefully design your value--propositionproposition

> Use Sales Funnel concept to> Use Sales Funnel concept to

monitor and manage your progress.monitor and manage your progress.



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Keys to StartKeys to Start--Up Success (Contd)Up Success (Contd)

3. Hire excellent people who are venture3. Hire excellent people who are venture--fit:fit:

> Resourceful, motivated> Resourceful, motivated

> Can grow with business> Can grow with business

> Give them a piece of the action.> Give them a piece of the action.




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